Make MENAFN My Home Page
 
  Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Saudi- 100000 contractors forced to quit business  Join our daily free Newsletter

MENAFN - Arab News - 24/04/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) Chairman of the national committee for contractors at the council of saudi chambers fahd al-hammadi said that more than 100000 contractors quit the business in the past one year.

'the number of registered contractors at the chambers in the kingdom fell to 140000 from 240000 in a year. they just disappeared from the market according to statistical studies" al-hammadi said at a press conference in the makkah chamber of commerce and industry recely. he put the number of classified contractors at 3100 who accounted for 2 percent of contractors taking up projects in the kingdom.



hammadi warned against a clause in the new labor regulations permitting foreign workers to keep their passports and to obtain a transfer to any sponsor they wished when the contract period with the original sponsoring company ended.

he said the clause if implemented would be catastrophic for the saudi contractors' market.

 
 


Arab News




Loading, Please wait....


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Search News
Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help